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Bank of America launches home loan navigator

20 June 2016

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Source: Bank of America

Continuing to hone the high-touch and high-tech approach consumers want when it comes to the mortgage process, Bank of America has launched Home Loan Navigator, an online tool to keep applicants connected to the status of their loan, anytime.

Accessed through the security of the Bank of America Online Banking home page, Home Loan Navigator is an online portal designed to help make the loan process easier and more transparent.

“Staying connected with our clients and helping them through their mortgage experience – either online, in-person or over the phone – is critical to a smooth process and satisfied clients,” said D. Steve Boland, Consumer Lending executive, Bank of America. “We’re giving that process an even bigger boost with the introduction of Home Loan Navigator.”

Home Loan Navigator is exclusively for clients who apply for a mortgage or want to refinance with the bank, and is an integral part of the bank’s secure Online Banking platform. Existing bank clients with Online Banking access will have immediate access, while new customers will be able to enroll upon applying for a loan.

Clients using Home Loan Navigator can:

View the current status and details of a loan application.

View a “to-do” list and complete outstanding tasks.

Choose to receive disclosures and other loan documents electronically.

Electronically sign certain loan documents.

Submit supporting borrower documentation online easily and securely.

Communicate with our Home Loans team via secure messaging.

Receive email alerts when new loan documents are available for download.

The portal provides self-service features that simplify and improve the mortgage experience. Clients can check on their current loan status at any time, at any stage of the process. The portal’s “To-Do List” tab shows a comprehensive rundown of information or borrower documentation that is needed to keep the application moving forward toward an early loan decision and timely closing.

The bank recognizes that the mortgage process benefits from both a high-touch and high-tech approach for the best result. Home Loan Navigator has two-way messaging capabilities to facilitate ongoing dialogue between clients and their Bank of America professionals for a strong and consistent personal connection.

“Our clients tell us they want a personal connection for complex transactions,” said Boland. “Our digital capabilities, our teams’ expertise, and the rewards we offer to clients provide the combination of value and service our customers expect. It’s the best of both worlds.”

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This content is contributed or sourced from third parties but has been subject to Finextra editorial review.